Coronavirus: Islington’s finance chief warns Covid-19 crisis could cost council £60million
- Credit: Archant
Islington’s finance chief warns the Covid-19 crisis could cost the council about £60million by the end of the year.
The government has given Islington Council about £15.6m extra funding during the pandemic, and has suggested more money will be made available if necessary.
But Islington’s finance lead Cllr Satnam Gill OBE says: “The help they’re offering is nowhere going to cover the cost”.
He added: “They have given us about £15.6m towards the cost of doing it but we think it will cost us about £60m at the end of this year, and this £15m is going to be nothing compared [to that].
“What they’re not looking at is the impact on council income. Parking income is down about £2million a month, income from leisure centres has completely gone but we are still having to pay for all those buildings. When you add all those up with additional costs we think it will add up to £60million for the year. That’s assuming [lockdown] only lasts for three months and then we are in partial lockdown for a year.”
You may also want to watch:
The Office For Budget Responsibility fiscal watchdog has warned that, if the lockdown lasts for three months, the UK economy shrink by 35 per cent this spring.
- 1 'Obscene gestures and racist abuse' made at Islington Council meeting
- 2 Police search for man who exposed himself on Islington 393 bus
- 3 'No consultation': Anger Islington cricket pitch could replace park
- 4 Five times Islington has featured in films and TV series
- 5 Islington man charged with murder of shooting victim Taylor Cox
- 6 Appeal to trace missing Islington school girl, 14
- 7 Hackney photographer captures lockdown 'park life'
- 8 'LTNs are killing us': Hundreds of Highbury traders sign petition
- 9 Tollington Arms landlord relieved at rent moratorium extension
- 10 Man in hospital with potentially 'life-changing' injuries following stabbing